Balance Transfers – Frequently Asked Questions

Updated on 21 May 2020

Which banks can I balance transfer to?

Many balance transfer credit cards have limitations regarding the source of debt that can be transferred. Below is a handy table you can use to discover where you may be able to transfer to or from. Note that some brands may change card issuers from time to time which will change the balance transfer restrictions. Always confirm with the card issuer prior to requesting a balance transfer.

Transferring from:Cannot transfer to:
American ExpressAmerican Express
Bank of MelbourneBank of Melbourne, BankSA, St.George
Bank of Queensland (BOQ)BOQ, Citi, IMB, Suncorp, Virgin Money
Bank SABankSA, St.George, Bank of Melbourne
CitiCiti, Coles, IMB, Suncorp, Qantas Money, Virgin Money
ColesColes, Citi, IMB, Suncorp, Virgin Money
IMBIMB, Citi, Coles , Suncorp, Virgin Money
JetstarJetstar, Myer, Macquarie
MyerMyer, Jetstar, Macquarie
Qantas MoneyQantas Money, Citi, Coles, IMB, Suncorp, Virgin Money
SuncorpSuncorp, Citi, Coles , IMB, Virgin Money
Virgin MoneyVirgin Money, Citi, Coles , IMB, Suncorp

What is a balance transfer offer?

A balance transfer offer is and introductory interest rate applied to the balance transfer amount due to be transferred to the card for a set period of time. Offers may include a balance transfer fee and are generally only available when transferring from a different credit card provider. Other transactions are subject to the purchase rate.

Compare credit cards with great balance transfer offers here

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